I heard some news about FTX exchange recently and I'm wondering what exactly happened to it. There were some rumors about its financial situation and I'm curious to know if they are true. Can someone provide me with a brief overview of what went wrong with FTX?
            
            
            
            
            
            
           
          
          
            5 answers
            
            
  
    
    MountFujiMysticalView
    Sun Dec 15 2024
   
  
    FTX Exchange operated two distinct trading entities.
  
  
 
            
            
  
    
    amelia_harrison_architect
    Sun Dec 15 2024
   
  
    One was FTX, an international platform headquartered in the Bahamas. 
  
  
 
            
            
  
    
    IncheonBeauty
    Sun Dec 15 2024
   
  
    The other was FTX US, a separate affiliate specifically for U.S. residents.
  
  
 
            
            
  
    
    GyeongjuGlory
    Sat Dec 14 2024
   
  
    FTX US allowed only American citizens to engage in trading activities. 
  
  
 
            
            
  
    
    CryptoNinja
    Sat Dec 14 2024
   
  
    In early November 2022, FTX and its affiliated companies, including FTX US, began to unravel.